Profile

I am an arbitrator with more than 32 years of experience in arbitration, 24 years of which were as a partner of Herbert Smith Freehills LLP working predominantly in the energy and infrastructure sector.

From 1995 to 2024, I worked in Hong Kong, London, Dubai, Tokyo and Kuala Lumpur, and held leadership roles including being Global Head of the firm’s Construction and Infrastructure Disputes team, Head of the firm’s Middle East Disputes practice, Head of the firm’s Japan Construction Disputes practice, and Head of the firm’s Construction & Infrastructure Disputes Hub in Kuala Lumpur.

During my time with HSF, I represented clients in some of the most high-profile disputes in the Middle East and Asia. I advised on all forms of dispute resolution, but primarily I represented clients, and sat as an arbitrator, in international arbitrations.  I was honoured to receive many accolades (see below) regarding my legal knowledge and commercial awareness, but also for being easy to work with and my clear communication.

I have extensive experience advising on major projects in Asia, Africa and the Middle East, including power projects (thermal, nuclear and renewable), transport (airports, harbours, bridges, rail, metro and tram), oil and gas (pipelines, offshore platforms, refineries), data centres, manufacturing plants, and leisure developments. The procurement arrangements for these projects varied: some were procured traditionally, on an EPC/turnkey basis or using construction management, and others were procured under project finance structures. Outside construction and infrastructure, I advised financial institutions on claims under conventional and Islamic finance documents, hotel operators on operating agreement claims and employers on employment disputes.

I now work exclusively as an arbitrator, but previously as a solicitor, I held practising certificates from England and Wales, Hong Kong and Scotland, and I was registered as a foreign lawyer in Dubai, Japan and Malaysia. 

Experience as an arbitrator

I have served on tribunals established under the ICC Rules, the DIFC-LCIA Rules, the DIAC Rules, the JCAA Rules and on an ad hoc basis.  I have been appointed as a sole arbitrator, an emergency arbitrator, and as both a party-appointed arbitrator and as President / Chair of the tribunal. As sole arbitrator, I issued what I understand to be the first DIFC-LCIA Award to have been enforced.

As well as construction and infrastructure cases, I have heard general commercial disputes and cases arising from governmental conduct including the application of export restrictions from the Kingdom of Saudi Arabia. My experience includes:

EPC Construction Disputes : Sole arbitrator in a case concerning: 

claims for sums allegedly due to the contractor for work done under a construction contract, and in particular for variations instructed under that contract, for prolongation costs, and for payments flowing from the termination of the contract; and

counterclaims for liquidated damages and the additional cost of completion of the work without the claimant.   

Design Team Construction Disputes : President of a panel of 3 arbitrators in an arbitration concerning the construction of a school, in which the claimant asserted claims against members of the design team behind the school’s construction. 

Oil & Gas Disputes : Sole arbitrator in a DIFC-LCIA dispute concerning the sale of oil from Saudi Arabia, and the respondent’s alleged failure to provide the required quantity of oil, at the contract specification, to the claimant.

Joint Venture Disputes : Sole arbitrator in a DIFC-LCIA arbitration under a Joint Venture Agreement where a claimant sought damages for the respondent’s alleged failure to pay sums due to the claimant upon the sale of a real estate development.

Logistics Disputes : On a panel of 3 arbitrators appointed by the LCIA, hearing disputes between various claimants and various respondents all arising under a series of Global Services Provider Contracts.

Shareholder Disputes : Sole emergency arbitrator in a JCAA case where various claimants sought orders to prevent a respondent from purchasing shares and exercising certain rights as a shareholder, and to require the respondent to transfer certain shares.

M&A Disputes : Sole arbitrator in a case arising from a corporate acquisition where the claimant sought orders:

for it to be registered as the shareholder of a substantial part of the issued share capital of a company;

that the purchase price to be paid for the shares be amended; and 

that investigations be conducted into the target company’s accounts.

IPO Disputes : On a panel of 3 arbitrators hearing disputes concerning the IPO of a company in the technology sector involving allegations that the purchaser failed to pay the full deferred consideration for shares acquired, and counterclaims by the vendors concerning the purchaser’s breach of contract.

Additional Panels and Memberships : I am on the Dubai International Arbitration Centre (DIAC) Arbitrator List, the Hong Kong International Arbitration Centre (HKIAC) List of Arbitrators, the International Panel of the Arbitration Foundation of Southern Africa (AFSA) and the Panel of the Japan Commercial Arbitration Association (JCAA). I am on the Vienna International Arbitral Centre (VIAC) List of Arbitrators and am listed on the panel of, and am a member of, the Scottish Arbitration Centre (SAC).

Selected Accolades

• Global Elite Thought Leader: Construction
Who's Who Legal 

• Clients describe ... Craig … as "an intellectual powerhouse" who is "a force to be reckoned with - somebody who sees things from all different perspectives." Chambers Global 

• In the words of one client: "He has a strong analytical mind and strong legal skills, but at the same time his advice is easy to understand and he doesn't sit on the fence." Chambers Global

• Craig Shepherd is praised by clients who say that "he has excellent analytical skills, he's very creative and able to think of reasonable solutions when problems and unique situations arise." Chambers & Partners Global 

• "Craig Shepherd, the firm's global head of contentious construction, is 'excellent at running complex arbitrations efficiently, which is a key skill with increasingly large document-heavy cases' - his cases concern energy, rail and water project disputes." Legal 500 EMEA  

• "Craig Shepherd is described as a 'very active, very competent, very knowledgeable lawyer' by market sources. Clients additionally laud him as being 'very easy to work with' and 'an experienced construction lawyer who knows how to strategically manage disputes.' Chambers Global 

• Craig Shepherd of the Dubai office has gained acclaim for his "perfect in-depth analysis". Chambers & Partners Global 

• Clients have noted that Craig is "a very safe pair of hands"; he gives "astute legal advice" and has "great awareness of a client's broader commercial needs". Legal 500 EMEA 

• Clients describe Craig as "hard-working and gets to the point," and "one of the best construction disputes lawyers in the market." Chambers & Partners Global  

• Nominated as a 'stand-out lawyer', with one client describing Craig as "very sharp, clever, intelligent, and experienced: a very good lawyer." Acritas Star Lawyers 

• Clients say that he "provides really professional and high-class advice" and that he is "incredibly knowledgeable and commercially aware." Chambers Global 

Background 

After qualifying as a solicitor in Scotland in 1993, I moved to London, requalified in English law, and then left the UK in 1995, moving to Hong Kong where I became a partner in 2000.  After a brief period back in London, in 2007 I moved to Dubai to set up the firm’s Middle East Disputes Practice. I remained there until 2019 when I relocated to Tokyo and then finally moved to Kuala Lumpur in 2022 until I retired as a partner in 2024. 

From the many hundreds of disputes which I handled, selected cases as counsel include advising:

Construction & Energy 

• a consortium of international contractors on a US$22.5 billion metro project for metropolitan railway lines, stations and rolling stock  

• a developer in an ICC arbitration commenced by three claimants relating to the construction of an iconic UAE structure

• a contractor in a series of disputes arising out of two EPC contracts to install onshore and offshore pipelines and single-point mooring systems in southern Iraq

• the owners and operators of 3 power and steam facilities in Saudi Arabia in an ICC arbitration against the off-taker

• a contractor and rolling stock provider consortium on the construction of a high-speed railway project  

• a contractor on claims for additional cost and extensions of time arising from a hotel project  

• a hotel owner on claims for additional cost and extensions of time arising from a hotel and shopping mall project   

• a main contractor on disputes concerning the construction of an urban metro

• the owner/operator of an IWPP in expert determination and subsequent ICC arbitration proceedings in connection with disputes totalling US$1.5 billion with the off-taker over the construction and operation of both the power and desalination parts of the plant

• a design team in arbitration on disputes arising from the design of a major road and rail bridge

• an owner on disputes arising from the construction of a beachfront luxury development

• a Japanese client in SIAC arbitration proceedings arising from the construction of a coal-fired power plant in Indonesia 

• a construction company in a dispute with a sub-contractor over the construction, maintenance and management of work camp facilities

• a major Japanese trading house in ICC proceedings in London in respect of various claims arising out of the construction of a multi-million dollar facility 

• an international construction company on a US$100 million extension of time and costs claim, arising under a design and build contract for a high-profile project in Qatar

• a consortium on disputes arising out of a major infrastructure project in Qatar including substantial delay and disruption claims, the termination of subcontracts and the calling of bonds

• a leading engineering and projects specialist in DIAC arbitration proceedings in Dubai concerning claims arising out of a contract for the construction of a district cooling plant

• an owner in disputes arising from the construction of a Southeast Asian hydro project

• an independent water producer in ICC proceedings in London relating to various claims arising out of a contract for the expansion of a desalination plant

• an IOC on disputes with an international Oil Field Services Provider arising out of a contract for drilling wells in Iraq

• a confidential client on disputes arising out of construction work on Hong Kong's MTRC network

• a contractor consortium on disputes concerning the construction of Dubai's metro

• a major Indian contractor on disputes arising out of a development at Dubai Marina 

• a project owner on delay and additional cost claims by a multinational consortium concerning a gas-fired power plant in Indonesia

• a dredging contractor on claims following damage to a vessel caused by encountering ordnance

• a National Oil Company on disputes with an oil field services provider

Commercial Matters

• an investment bank on ICC arbitration proceedings, and satellite multi-jurisdictional litigation, brought against a public limited company 

• an international hotel operator in a budget dispute with the owner of a 5-star hotel 

• the majority shareholder in an inter-shareholder dispute concerning the management of a company and the successful sale of a publication owned by the company to a Free Zone Authority

• a distributor on claims in an ICC arbitration arising out of various breaches of an exclusive distributorship and licensing agreement 

• an investor on its rights following telecoms acquisitions in Africa

• a Bahraini company as plaintiff against an allegedly negligent insured

• an international hotel operator on claims under an operating agreement 

• a Middle East manufacturer on claims under a credit insurance policy

• an investment bank in an arbitration arising out of the transfer of shares in a telecoms company  

• an insured on claims under relevant insurance policies following a power interruption to a telecoms facility

• an investment bank in various court proceedings in respect of breach of contract and misrepresentation claims

• an Asian private equity fund on several disputes in connection with real estate investments in Japan,

• employers in various employment disputes.

Qualifications and Education 

Qualifications

• Admitted as a Solicitor (Scotland), 1993

• Admitted as a Solicitor (England and Wales), 1995

• Admitted as a Solicitor (Hong Kong), 1998

Education 

• University of Aberdeen LLB (First Class Honours), 1990